Drake and LeBron James invest in PGA Tour: Report

Drake and LeBron James
Drake and LeBron James (Image via X/ @NUCLRGolf and Getty)

The PGA Tour has expanded the list of its investors lately, the most recent being its new program PGA Tour Enterprises. Now, Canadian rapper Drake and NBA superstar LeBron James are among the strategic investors backing the new initiative PGA Tour Enterprises.

Reportedly, both of these entities are said to be part of a cohort of celebrities from the sports, music and entertainment realms. According to the New York Times, in addition to financial contributions, these outside investors will assist the tour in expanding its reach to a wider audience through their marketing influence.

NUCLR Golf took to X (formerly Twitter) and shared:

Moreover, the 37-year-old rapper expressed his excitement about joining the enterprise, reflecting on his fond memories related to golf. Drake said (via the New York Times Dealbook):

“Golf can be so much more than a sport. I remember some of my best childhood memories was being on the golf course with my uncle. It’s one thing to invest in a team, but to help reimagine one of the biggest leagues in the world is an incredible opportunity and I’m excited to be a part of it.”

It is important to note that many other investors in the same realm will also join the investors list in addition to Drake and LeBron James. This group encompasses actor Chris Pratt, Jeremy Zimmer - CEO of United Talent Agency and American businessman Arthur Blank.


A look into the newly formed PGA Tour Enterprises

The PGA Tour was on track to finalize an agreement with the PIF, with a deadline set for establishing a new joint venture last year. However, the timeline has been pushed to 2024, and as of now, there is no confirmation regarding the deal's completion. Instead, the tour has started with a new program, named PGA Tour Enterprises.

PGA Tour Enterprises is a new for-profit venture that was formed in late January 2024. Strategic Sports Group (SSG) has pledged to invest $3 billion in this initiative, providing significant financial support.

The role of this newly formed venture is to look after the PGA Tour and DP World Tour’s important decisions. Additionally, the initiative will offer equity rights to approximately 200 qualifying and loyal players, alongside furnishing the golf circuit with more benefits.

PGA Tour Commissioner, Jay Monahan, expressed his happiness about how this program will succeed on the tour. He said (via Business Today):

“Today marks an important moment for the PGA TOUR and fans of golf across the world. By making PGA TOUR members owners of their league, we strengthen the collective investment of our players in the success of the PGA TOUR.”
Edited by Luke Koshi
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